Suppose solar panel manufacturing is an industry subject to significant economies of scale, andthere are currently three solar panel manufacturers all with identical costs. If the demand for solarpanels is 5 times the quantity produced at the bottom of the long-run average cost curve, which ofthe following is most likely to happen to the solar panel manufacturing industry in the long run?O The number of solar panel manufacturers will increaseO The price of solar panels will increaseO The fixed costs of manufacturing solar panels will increaseThe quantity supplied of solar panels will decrease

If the demand for solar panel is five times the production there would be excess demand initially.…

Suppose solar panel manufacturing is an industry subject to significant economies of scale, and there are currently three solar panel manufacturers all with identical costs. If the demand for solar panels is 5 times the quantity produced at the bottom of the long-run average cost curve, which o the following is most likely to happen to the solar panel manufacturing industry in the long run? O The number of solar panel manufacturers will increase O The price of solar panels will increase O The fixed costs of manufacturing solar panels will increase O The quantity supplied of solar panels will decrease

Suppose solar panel manufacturing is an industry subject to significant economies of scale, and there are currently three solar panel manufacturers all with identical costs. If the demand for solar panels is 5 times the quantity produced at the bottom of the long-run average cost curve, which o the following is most likely to happen to the solar panel manufacturing industry in the long run? O The number of solar panel manufacturers will increase O The price of solar panels will increase O The fixed costs of manufacturing solar panels will increase O The quantity supplied of solar panels will decrease

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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hi! may i know how to do this qns?
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